E-discovery (electronic discovery) deals with the electronic aspect of identifying, producing and collecting Electronically Stored Information (ESI) for the purpose of investigation. The global e- discovery market is expected to rise at a CAGR of 22% during the forecast period 2016-2023. Acceptance of predictive coding across end users is contributing to the growth of the global e- discovery market. However, high cost associated with e-discovery solutions and services and contradiction between data protection and e-discovery are the factors restraining the growth of the global e-discovery market during the forecast period.
"Geographically, North America accounted for the largest market share in terms of revenue for the e-discovery market in 2016 followed by Europe. North America is expected to dominate the market during the forecast period owing to high adoption of cloud based technology in the region. Asia Pacific is expected to be the fastest growing region for the global e-discovery market during the forecast period owing to technological developments in the field of analytics and cloud as well as emergence of mobile technologies.
The growth in the global e-discovery market is also influenced by the presence of major players such as IBM Corporation (U.S.), HP Autonomy (U.K.), Daegis Inc. (U.S.), Guidance Software Inc. (U.S.), Xerox Corporation (U.S.) etc. To gain competitive advantage the major market players adopt various strategies such as mergers & acquisitions, product launch, partnership etc.
Global e-discovery market report covers segmentation analysis of solution, deployment model, services and industry. Report further covers segments of solution which includes data processing, data production, early case assessment, legal hold and technology assisted review. Technology assisted review and data production is expected to dominate the segment during the forecast period. These segments empower the organization by saving time and money spent on reviewing & managing large sets of documents, reducing risks and enhanced efficiency of the organization. Deployment models in e-discovery can be classified as cloud and on premise. Cloud deployment type is expected to dominate the segment during the forecast period. Cloud empowers the organization to increase its business by offering solutions across the globe. Also, it enables the organization to decrease the cost associated with IT infrastructure as well as its maintenance. Moreover, services offered by e-discovery include consulting, implementation, managed services and training and support. Furthermore, the industries adopting e-discovery can be divided as Banking, Financial Services and Insurance (BFSI), energy and utilities, government, healthcare, IT and Telecom, legal sector, media and entertainment, transportation and logistics, travel and hospitality and other industries.